Assume that you contribute 180 per month to a retirement, Finance Basics

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Assume that you contribute 180 per month to a retirement

Question: Assume that you contribute $180 per month to a retirement plan for 15 years. Then you are able to increase the contribution to $380 per month for the next 25 years. Given an 8 percent interest rate. What is the value of your retirement plan after the 40 years? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Future value of multiple annuities

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Finance Basics: Assume that you contribute 180 per month to a retirement

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